If you are currently engaged in a frantic recruitment crusade and a relentless campaign on social media for the capture and onboarding of new victims candidates to sign up and join our glorious "social network" on the Hive blockchain, you will need nothing more than using the very effective and persuasive words poured out in this complete and comprehensive tutorial that you are about to read.
It is not at all necessary and absolutely not essential that you have to use confusing ideas, arcane terms, complicated words or complex concepts beyond the use of the very diaphanous words and the simple crystal clear description that you will learn throughout this post. Since with this complete and understandable summarized tutorial here you'll convince to any of your new victims candidates that they should join us in our supportive and generous “social network” on the blockchain. And then, over time, they will learn everything they can on their own to evolve, prosper and thrive on it.
Informative, educational, persuasive, infallible, convincing and very clear words in this summarized tutorial to at least pique their curiosity and get them to register and join us. Although of course, getting to retain them later within the ecosystem so that they stay with us for the long run... that's obviously another thing quite different.
So without further ado, let's get started with the tutorial:
«Hive Blockchain»
HIVE is built on three basic principles that are very well described in its “Hive whitepaper”. These principles are:
That every person who contributes in any way to the community should own a portion of the company's (cooperative) stock.
That all forms of capital are equally valuable, whether your contribution is by investing large amounts of money, or by investing your time, effort and creativity to produce content and/or evaluate (curate) said content.
This is a closed community and all content produced is mainly for the consumption of its own members.
Shares in the Hive cooperative.
When a company is created, its owners are its shareholders or stockholders. The decision-making power falls on those who own the largest number of shares. Likewise, the profits generated are distributed in proportion to the number of shares each person owns. Thus, whoever owns the largest number of shares in the company or cooperative will have greater influence on the activities carried out and in the economic benefits that these activities generate.
These shares of the Hive cooperative are called Hive Power or HP. The more HP a person owns, the more Hive shares they own. Therefore, to ensure the long-term stability of Hive, the shares or Hive Power cannot be sold immediately; instead, it requires a long period of thirteen weeks for these shares can be withdrawn in liquid Hive and then be sold in their entirety on the markets.
This process of selling Hive shares is called Power Down, and once it is activated you begin selling your shares in 13 consecutive weekly installments, that is, it takes you a little more than three (3) months to sell your Hive shares. You can purchase more Hive shares at any time, this is called Power Up and they are credited to you immediately, and they have the same Power Down mechanism to sell them.
If you want to own an ever-growing portion of this company (cooperative) called Hive, and therefore a larger share of the profits generated, you must constantly increase your Hive Power.
Hive's Cooperative Profits:
Hive has used a revolutionary tool to pay its shareholders and generate profits for the company. It has invented a cryptocurrency called HIVE. It has adopted the experience gained from other established cryptocurrencies such as Bitcoin and has started to produce its own digital currency; yes, literally out of thin air. And this is what is distributed as profits and dividends among all the members of this company called Hive. Initially, HIVE had no monetary value but today is currently traded (bought and sold) at around $0.20 cents per HIVE in the cryptocurrency markets.
The price of HIVE is extremely volatile, it can cost $0.20 in the morning and trade for $0.10 or hopefully and with some luck at $1.0 in the late afternoon. The price basically always is gonna depend on the public's confidence and interest in the cryptocurrency and the number of transactions that are made with it.
Hive generates out of thin air through typical cryptocurrency "mining" processes about 800 HIVE per minute, which assuming a price of $1.00 per HIVE would be about $800.00 per minute. Of course, the equivalent in fiat (dollars) varies depending on the market. Then this money is distributed daily and evidently it's not an insignificant sum since it would represents, at a rate of $1.00 per HIVE, approximately $1,152,000.00 dollars per day.
As we can see, there is a problem associated with HIVE and market volatility. We cannot know for sure how many US dollars we have at any given time since the price is constantly changing. For people who prefer to enjoy the stability of dollar$ in their earnings generated in HIVE, the HIVE DOLLAR or HBD has also been created.
HBD will always be equivalent to 1 USD. For example, if you convert your HIVE to HBD and the conversion rate on that day and right at that moment is let's say $0.50 USD per HIVE, then you will receive half a HBD. This way if you decide to sell in a few months or years, by instance 50 HBD, you know you will receive $50.00 dollars regardless of the value of HIVE in the market at that time.
HIVE, HIVE POWER (HP), HIVE DOLLAR (HBD):
Alright, now we are supposed to be able to clearly differentiate these three monetary elements of the Hive blockchain, right? Ok, now let's go into detail about them:
"HIVE"
HIVE is the cryptocurrency that is "mined" and can be exchanged or trade on exchanges for other cryptocurrencies or dollars. The price is constantly fluctuating and holding the cryptocurrency can generate large profits if the price rises, or large losses if the price plummets.
HIVE is the only thing that can be used to trade outside the Hive platform. That is, when we want to obtain USD dollars we must exchange our HBD for HIVE and then exchange our HIVE for dollar$ on exchanges. HBD is exchanged for HIVE on an internal market that the Hive platform has.
"HBD or HIVE DOLLAR"
HBD is Hive's currency with a stable value in USD dollars. One HBD is always worth $1.00 dollar regardless of the market value of HIVE. When you receive payments for your activities, whether it be creating and posting content or voting and "curating" content, you are paid in HIVE, but these are immediately converted to HBD at the US dollar to HIVE exchange rate at the time the payment is made.
"HIVE POWER or HP"
HIVE POWER or HP is the total number of shares you own in the Hive company (cooperative). The more shares you own, the more income you get from the total profits of Hive. Your goal is to own a bigger and bigger piece of that pie, and then become into a whale. Whales are those who own large amounts of HP and are those who with a single upvote can contribute with tens of dollars to a post. It's like if your boss suddenly comes to check out your work and just by getting a pat on your back from him you miraculously gets a big bonus.
How are Hive's tokens distributed?
As we can see, what is done is to distribute the ~ $1,152,000.00 USD generated per day (which comes from 800 HIVE per minute x 60 minutes x 24 hours) among all the activities that are carried out daily in Hive. The distribution is made between the "miners" and block producers who are basically the ones that generate the brand new minted HIVE. And who jointly with the authors who create the content and among the people who review the content to make their evaluations or "content curation" by casting their votes, they contribute to keep the monetary production machinery running.
But now, if you have checked your wallet, you will notice that what you receive is HIVE Power and HBD. That is, all earnings are automatically transformed into company shares (HIVE POWER) and coins with nominal values in USD dollars (HBD) that then can be exchanged back to HIVE on the internal market to be sold on exchanges.
The distribution used by Hive is that for every HBD equivalent to $1.00 dollar, it creates around 19 dollars in HIVE POWER or shares. That is, it is only possible to sell 5% of the money generated daily, the rest is transformed into Hive shares that are distributed among all members of the platform according to their activities and the votes received.
How are the tokens/dividends distributed among all members of the platform?
We already know that money flows every time votes are cast between different contents. In principle, if things were completely fair, each vote should be worth exactly the same, that is, if $1,000.00 are going to be distributed and 1000 votes were cast, each vote should contribute $1.00. But the reality is that our votes are not worth or weigh the same for all members of the community, but are proportional to the number of shares held in Hive, that is, it is proportional to each one's HIVE POWER.
For most of us, whose HIVE Power is very small, one vote doesn't really make a big impact on a post or content compared to one cast by the whales. But certainly hundreds of votes do make a difference. Therefore, it is important to constantly try to increase our HIVE POWER so that in the long run our influence and our votes weigh each time more and more for the evaluation and "curation" of the content.
«Conclusions»
Hive is an extraordinary “social network” platform on the blockchain that is generating and distributing cryptocurrency every day among members who actively participate in the community. Whether by generating content or evaluating and "curating" said content. It all comes down to one simple action: voting. People who vote earn an amount proportional to the amount that has been paid to the person who created the content.
The distribution of the money generated daily is done in two ways; in HIVE POWER (company shares) and in HBD which are equivalent to convertible dollar$. HP can be withdrawn and transformed through Power Down in HIVE over the course of thirteen weeks and thus sold as Hive on exchanges and cryptocurrency markets.
HBD can be transformed into Hive on the internal market, which can then be traded at the market price on exchanges. The best strategy to generate large incomes in Hive is to bet for the long term, constantly increasing your HIVE POWER and voting every day for quality content that strengthens the social network and your own account.
And well folks, until here this summarized and comprehensive ultimate tutorial about Hive and its formidable "social network" on the blockchain. I hope you enjoy it big time!
¡Hive On!
«««-$-»»»
"Follows, Comments, Rehives & Upvotes will be highly appreciated"
